Quick tax question

I do a home based business. Part of my gas and electric bills etc can be written off. What year do I write them off in? If the bill has a total charge on 12-27-07 but I pay in in 08 what year do I write it off in?

I've been doing this for about 15 years now. Not sure if I have been doing it correct.

Thanks
Rodney Dickman
1990 348 TS

 

Let it go and find something else to write off in it's place that is deemed legit. If you get audited, bring it up then and work towards back credit. I have never taken the office deduction, etc. Just don't want that flag raised. I have nothing to hide, but would never have the time to deal with preparing for an audit!

 

Ah, he's been doing it for 15 years. I did it for 10, myself. It's legit, man! It's not just you, Pete - year after year I can't believe how much irrational fear of IRS there is on F-Chat. Take a look at the 1099 and see what you've been missing out on, peeps.
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Write-off occurs in same year actual out-of-pocket expense occurs.

Your 12-27-07 bill paid in 2008 will be deductible in the next Tax Year - 2008.

On the flip side -

If you made your Jan. 1, 2008 mortgage payment by the end of December, 2007; you can deduct the interest now, against 2007's income.